Cable is coming up on its first retest of the channel it had been forming since September 2017. SRSI and Stoch are both showing oversold but have not crossed up yet, so expecting support at the 0.786 fib level and beyond that at 0.86851. If it breaks through both supports the bears may have enough momentum to push past the channel.
USDCHF is nearing the first pivot point resistance level at 0.99350 and will reach the 9th TD candle on the daily, indicating an impulse down, at least to the previous support level created by the June - July '18 bottoms. Major resistance at 0.236 Fib retracement level. Entered at 0.99303, stop loss at 0.99554, target price 0.98580.
We just hit the head and shoulders target price which coincided with the second pivot point support. On the 4 hour chart, the impulse is headed back up through the ichimoku cloud, and stochastics just crossed up. Expecting at least a rally up to the pivot point at 113.907 although it could very well finish the edge to edge. Entered long at 113.176 and placed stop...
